https://www.taxtmi.com/caselaws?id=292371 The Tribunal allowed the appeal filed by the assessee, setting aside the CIT(A)'s order and directing the AO to delete the addition of Rs. 5 crores under Section 68 of the Income Tax Act, 1961. The Tribunal found the transaction genuine, considering the assessee's substantial evidence and the group's overall potential influencing investment decisions. The AO failed to prove the transaction was sham, leading to the favorable outcome for the assessee. en-us Thu, 08 Feb 2018 00:00:00 +0530 Mon, 21 Dec 2020 10:51:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292371 The Tribunal allowed the appeal filed by the assessee, setting aside the CIT(A)'s order and directing the AO to delete the addition of Rs. 5 crores under Section 68 of the Income Tax Act, 1961. The Tribunal found the transaction genuine, considering the assessee's substantial evidence and the group's overall potential influencing investment decisions. The AO failed to prove the transaction was sham, leading to the favorable outcome for the assessee. Case-Laws Income Tax Thu, 08 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292371